RE:RE:RE:RE:" If gold goes up ... ggrellette, let's compare some financial numbers since 2019.
From the sedar web site, and from orefinders' financial records, Orefinders had 79 million shares outstanding, and fully diluted, there was a total of 100 million shares outstanding, with shareholder's equity valued at $9.4 million.
Fast forward to today, there is 247 million shares outstanding, plus 60 million warrants, for a total of 307 million shares fully diluted, with $6 million in cash and $6 million in marketable securities.
As well, there is now in place an agreement with Agnieco Eagle in which ORX has access to $60 million of funds over a period of time, so less risk of going to zero, but this agreement comes at a cost to ORX shareholders, as Agnieco now gets the lion's share of any big findings.
So now, yes it is very doubtful that the stock could reach a $1 and yes $2 stock is a pipe dream.
Probably 50 cents would now be the highest, and 25 cents a share is probably a better target price, but there is a wild card out there that could provide some excitement.
What if Russia all of a sudden backed it's Ruble with gold, and so did China? I doubt there is any gold in Fort Knox of any actual proportions, and the Canadian Government got rid of'all of it's gold about 15 years ago.
Further, it is widely believed that most of Europe's countries have leased a lot of gold out, and there is a lot of double counting going on.
It is widely believed that 60% of U.S dollars currently in circulation was created over the past few years.
Nobody can predict the future, but I'd rather hold a 5 cent share of ORX rather than 5 cents in any European, Canadian or U.S bond for that matter.